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Indicators of economy in Saint Vincent and the Grenadines

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Saint Vincent and the Grenadines, on the other hand, reached USD 8,666 per capita, or 904.18 million USD for the whole country. Saint Vincent and the Grenadines is currently at number 197 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant, taking purchasing power parity into account, then Saint Vincent and the Grenadines ranks 95th in the list of the richest countries.

Inflation in Saint Vincent and the Grenadines in 2022 was around 5.66%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 60, which is rather mediocre by global standards.


Back to overview: Saint Vincent and the Grenadines

Impact of the COVID-19 pandemic

Overall, the gross domestic product in Saint Vincent and the Grenadines in 2020 decreased moderatly from 910.15 million US dollars to 872.13 million US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 4.2 percent is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 67 percent. The unemployment rate rose from 19.1 to 20.6 percent. The inflation rate fell from 0.9 percent previously to -0.6 percent by the end of 2020.

In 2021, there was already a recovery and the gross domestic product increased to 904.18 million US dollars (=99.3% of 2019).

Income and purchasing power

The average monthly income in Saint Vincent and the Grenadines is 727 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 38.2 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Saint Vincent and the Grenadines than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 80.1 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 Saint Vincent and the Grenadines
Total		Saint Vincent and the Grenadines
per capita		EU
Total		EU
per capita
GDP904.18 m USD8,666.39 USD17.177 tn USD33,384.92 USD
Gross national product909.57 m USD8,718.04 USD16.895 tn USD32,835.37 USD


Development of gross domestic product in millions of USD 1960 - 2021


› Debt budget development
› Development of inflation
› Corruption in Saint Vincent and the Grenadines
› Cost of living in a global comparison


Imports and Exports 2021

 Saint Vincent and the Grenadines
Total		Saint Vincent and the Grenadines
per capita		EU
Total		EU
per capita
Imports415.73 m USD3,984.68 USD8.916 tn USD17,329.02 USD
Exports125.78 m USD1,205.57 USD9.554 tn USD18,569.19 USD


Development of imports and exports in millions of USD 1978 - 2021

Exports
Imports



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